Even for Top Companies, Employee Retention Requires Creativity

Do you lose sleep at night worrying about your best employees defecting?

Even the most high-profile companies worry about losing their talent to competition.

Goldman Sachs, for instance, is pickier than Harvard. The bank receives about a million applications a year for mid-level jobs, and hires only 5,000.

Yet, Goldman Sachs’ leadership still worries about losing talent to bigwigs like Google and Amazon, and for good reason. One recent LinkedIn report found that data analysts and embedded software engineers turn over at a rate of about 22% a year.

Across every industry, increasing automation and use of data are making technical talent highly sought after. That’s good news for candidates, because companies are getting more and more competitive with their benefits.

Goldman recently announced a new parental-leave policy: 20 weeks of paid leave to all new parents — not just moms. Business Insider calls this policy “by far the most generous leave policy on Wall Street.”

In my 30+ years as a Recruiter, I’ve seen companies pull out a lot of stops to attract the best talent. This is a good time to be a candidate. If you’re thinking about a job change, contact me today.